Par Pacific Holdings, Inc., an energy company, provides renewable and conventional fuels in the United States. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates refineries that convert crude oil into gasoline, distillate, asphalt, and other products. The Retail segment operates convenience stores and fuel retail outlets that sell gasoline, diesel, and retail merchandise, such as soft drinks, prepared food, and other sundries under the Hele, 76, and nomnom brands, as well as unattended cardlock stations. The Logistics segment owns and operates terminals, pipelines, trucking operations, marine vessels, storage facilities, loading and truck racks, and rail facilities for the movement of ethanol, petroleum, and refined products; and a jet fuel storage facility and pipeline that serves Ellsworth Air Force Base in South Dakota. The company also holds interest in crude storage tanks and a crude oil pipeline that provides access to crude oil from power river basin; and refined products pipeline. In addition, it owns and operates a single point mooring, a marine terminal, a unit train-capable rail loading terminal, manifest rail siding, a truck rack, and a proprietary jet fuel pipeline that serves Joint Base Lewis McChord. The company was formerly known as Par Petroleum Corporation and changed its name to Par Pacific Holdings, Inc. in October 2015. Par Pacific Holdings, Inc. was incorporated in 1984 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.5B | $705M | $369M | $296M | 24.4% | -6.4% | -1208.5% |
| 2024 | $8.0B | $175M | $-33M | $-52M | -2.8% | -3.1% | -104.6% |
| 2023 | $8.2B | $806M | $729M | $497M | 54.6% | 12.4% | 100.1% |
| 2022 | $7.3B | $533M | $364M | $400M | 56.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 7,321.78 | 8,231.96 | 7,974.46 | 7,464.65 |
| Cost Of Revenue | - | 6,475.78 | 6,957.94 | 7,232.74 | 6,254.15 |
| Gross Profit | - | 846 | 1,274.02 | 741.72 | 1,210.50 |
| Operating Expense | - | 404.60 | 588.43 | 705.67 | 700.91 |
| Operating Income | - | 441.40 | 685.58 | 36.04 | 509.60 |
| EBITDA | - | 532.96 | 805.59 | 175.36 | 704.58 |
| EBIT | - | 433.19 | 685.76 | 43.78 | 560.25 |
| Pretax Income | - | 364.90 | 613.31 | -39.02 | 477.87 |
| Tax Provision | - | 0.71 | -115.34 | -5.70 | 110.78 |
| Net Income | - | 364.19 | 728.64 | -33.32 | 369.39 |
| Net Income Common Stockholders | - | 364.19 | 728.64 | -33.32 | 369.39 |
| Total Expenses | - | 6,880.39 | 7,546.37 | 7,938.41 | 6,955.06 |
| Interest Expense | - | 68.29 | 72.45 | 82.79 | 82.38 |
| Research And Development | 9.59 | 9 | 11.40 | - | - |
| Selling General And Administration | - | 62.40 | 91.45 | 108.84 | 98.45 |
| Normalized EBITDA | - | 541.78 | 842.19 | 177.38 | 702.84 |
| Normalized Income | - | 372.99 | 757.56 | -31.61 | 368.06 |
| Market Cap | 3,175.53 | 3,175.53 | 3,175.53 | 3,175.53 | 3,175.53 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Par Pacific Holdings, Inc.this co. | PARR | $3.3B | 8.60β discount | 2.10 | 24.4% | 6.02 |
| Magnolia Oil & Gas Corporation | MGY | $5.5B | 17.19 | 2.88 | 16.8% | 6.54 |
| Comstock Resources, Inc. | CRK | $5.0B | 11.84 | 1.88 | 15.9% | 5.73 |
| Tidewater Inc. | TDW | $4.4B | 13.11 | 3.21 | 24.5% | 10.26 |
| International Seaways, Inc. | INSW |
| - |
| - |
| - |
| - |
| - |
| - |
| $3.9B |
| 12.71 |
| 1.95 |
| 15.3% |
| 8.52 |
| Cactus, Inc. | WHD | $3.9B | 23.74 | 3.21 | 13.5% | 11.78 |
| SM Energy Company | SM | $3.3B | 10.65 | 1.43 | 13.5% | 4.18 |
| CVR Energy, Inc. | CVI | $3.1B | 117.36 | 4.34 | 3.7% | 7.51 |
| Crescent Energy Company | CRGY | $3.1B | 31.41 | 0.81 | 2.6% | 5.92 |
| Peer Median | - | 15.15 | 2.41 | 14.4% | 7.03 | |